SAN FRANCISCO, Aug. 6, 2021 /PRNewswire/ -- A new market study
published by Global Industry Analysts Inc., (GIA) the premier
market research company, today released its report
titled "Distributed Generation (DG) - Global Market Trajectory
& Analytics". The report presents fresh perspectives on
opportunities and challenges in a significantly transformed post
COVID-19 marketplace.
![Global Distributed Generation (DG) Market Global Distributed Generation (DG) Market](https://mma.prnewswire.com/media/1589021/Global_Distributed_Generation_Market.jpg)
FACTS AT A GLANCE
Edition: 16; Released: May 2021
Executive Pool: 16747
Companies: 52 - Players covered include ABB Limited;
AES Distributed Energy; Ameresco, Inc.; Ansaldo Energia S.p.A.;
Bergey WindPower Company; Bloom Energy Corporation; Canadian Solar
Inc.; Capstone Turbine Corporation; Caterpillar, Inc.; Clarke
Energy; Cummins, Inc.; E.ON SE; Flex Energy Solutions; FuelCell
Energy, Inc.; GE Power; Huawei Technologies Co., Ltd.; Mitsubishi
Heavy Industries Ltd.; Schneider Electric; Siemens AG; SMA Solar
Technology AG; Vestas Wind Systems A/S; Wärtsilä Corporation;
XZERES Wind Corp. and Others.
Coverage: All major geographies and key segments
Segments: Technology (Reciprocating Combustion Engines,
Fuel Cells, Solar Photovoltaic (PV), Wind, Gas Turbines, Micro
Turbines, and Other Technologies); Application (On-Grid, and
Off-Grid); End-Use (Industrial, Commercial, and Residential)
Geographies: World; United
States; Canada;
Japan; China; Europe
(France; Germany; Italy; United
Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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& marketing, and product management roles at featured
companies. Previews provide deep insider access to business trends;
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templates and much more. You may also build your own bespoke report
using our MarketGlass™ Platform which offers thousands of data
bytes without an obligation to purchase our report. Preview
Registry
ABSTRACT-
Global Distributed Generation (DG) Market to Reach
$168.3 Billion by 2024
Distributed generation refers to small-to-medium scale modular
power generation plants that are embedded into the distribution
network at a point closer to the site of consumption than the
central station power generators. Given the challenges in expanding
power transmission grid, and the urgent need for improving the
reliability of power supply for consumers, DG is becoming an
inseparable component of every electric power network. DG
technologies support the expansion of renewable energy resources,
and aid in delivering power to off-the-grid remote infrastructure
and facilities and electric vehicles. Amid the COVID-19 crisis, the
global market for Distributed Generation (DG) is projected to reach
US$168.3 Billion by 2024, registering
a compounded annual growth rate (CAGR) of 9.4% over the analysis
period. Europe represents the
largest regional market for Distributed Generation (DG), accounting
for an estimated 32.5% share of the global total. The market is
projected to reach US$60.1 Billion by
the close of the analysis period. China is expected to spearhead growth and
emerge as the fastest growing regional market with a CAGR of 11.1%
over the analysis period.
Growing environmental concern, the dramatic fall and rise of the
global economy, technological innovations, and the liberalization
of the electricity market have fostered a fertile ecosystem for the
growth for the distributed generation market. Environmental
regulations are major growth drivers for the DG market,
particularly in European countries, with governments promoting
eco-friendly technologies that benefit society, preserve
biodiversity, and help in meeting international environmental
commitments. Favorable government policy changes, incentives and
subsidies are promoting market growth. Europe is the largest regional market for
distributed generation. Increasing investment and the development
of new business models, including solar lease, have accelerated the
technical capabilities and affordability of distributed generation
technologies substantially over the last few years in Europe. Rising demand for energy from
industrial, commercial and residential sectors is leading to strong
growth of DG systems in North
America region. Favorable government policies, incentives
such as tax credits and focus on renewable energy are expected to
foster market growth. The growing drive for rural electrification,
particularly in developing economies, is also driving demand for
distributed generation.
The market for distributed solar PV is forecast to witness
fastest growth over the analysis period. Growing realization of
long-term economic and environmental benefits of solar energy
installations is driving adoption of the clean energy technology
among residential and commercial consumer to new heights. With mass
production of solar panels leading to a sharp decline in prices of
solar PV modules and incentives being offered for solar panel
installations, distributed solar generation market is poised for
growth. Rooftop modules represent one of the fastest growing
segments of distributed solar PV market, with the modules being
mounted at fixed angles on both pitched and flat roofs.
More
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SOURCE Global Industry Analysts, Inc.